Finish these financial tasks before December 31 to avoid paying penalty or losing benefits

With just few days left for the calendar year 2021 to end you have less time to complete some money-related tasks, failing which you may either face a financial penalty or lose some benefit. Let us have a look at  certain financial tasks you need to complete before December 31 to avoid any penalty or losing benefits.

Income tax return

The deadline for filing income tax returns (ITR) for the last financial year (2020-21) has been extended several times due to the epidemic, the new deadline is 31 December. If the government does not extend the deadline for filing ITRs, you could be in serious trouble. So file an ITR as soon as possible. If you miss the December 31 deadline to file an ITR, you will have to pay a penalty.

Certificate of Life

The deadline for retired government employees and family pension receivers to submit their annual life certificates or Jeevan Pramaan Patra, has been extended until December 31, 2021. If you have not submitted your life certificate yet then you need to submit it soon or else you may not receive pension for the next month. 

Linking Aadhaar with UAN

Due to the second wave of the Covid pandemic, the labour ministry earlier this year gave an extension in the deadline to seed Aadhaar details in the UAN for north-eastern states and certain establishments by four months, until December 31, 2021. The ministry also waived the penalty on employers for late filing of returns under the Employees Provident Fund Organization for two months. Worth mentioning here is that linking your EPF account with Aadhaar can help speeding up the claim settlement process. As per the unified portal of EPFO, if you wish to file an online claim for your EPF, then linking of Aadhaar with UAN is mandatory.